Energy News

Conservatives: ‘We’ll cut your energy bills’

Monday, 22 March 2010

By Daniel Barnes- daniel@consumerchoices.co.uk

Up to £6,500 of energy improvements and pledges to keep heating bills under control are promised by the Conservatives.

The Conservatives have unveiled new plans for the UK’s soaring fuel costs with pledges to cut energy bills.

The Tories’ new energy policies admit gas and electricity prices may still rise in the next decade, but pledges future bills will rise less than the figure of 14% to 23% projected by regulator Ofgem.

The party has also pledged up to £6,500 worth of energy efficiency improvements for every household.

The cost of the work would be repaid over the long term on energy bills, matching the government’s ‘pay as you save’ for energy improvements on bills pledges earlier this month.

Greg Clark, shadow energy minister, said: “Our policies will deliver secure, sustainable and affordable energy for the years ahead, while boosting investment and creating jobs.

“Ours is a plan to turn a threat into an opportunity, demonstrating the energy leadership and values needed to get Britain back on track."

The Conservatives claim greater investment in energy efficiency will enhance the UK’s energy security.

While pushing for extra investment in areas such as carbon storage, wind and nuclear energy,

The Conservatives also claim a reduction in energy companies’ planned investments of 0.5% would mean energy bills could be cut by up to £1 billion over 10 years, the equivalent of £3.84 off annual bills per household per year.

To encourage investment in environmental technologies, the Conservatives are also proposing government-backed ‘Green ISAs’ and bonds.

The Liberal Democrats last week announced plans for a £400 ‘eco-cashback’ scheme for all homes as well as an investigation in energy company price setting practices.